Bombay High Court Dismisses Appeal by Secured Creditor IDBI in Company Petition for Oppression and Mismanagement — Upholds CLB Order Refusing Interim Relief. Court holds that a secured creditor cannot maintain a petition under Sections 397 and 398 of the Companies Act, 1956 for alleged mismanagement, as the remedy lies under the SARFAESI Act or other recovery laws.
30 Nov -0001The case involves an appeal by Industrial Development Bank of India Ltd. (IDBI), a secured creditor, against an order of the Company Law Board (CLB) r...




